A: Not always. First, you have to calculate how much you are paying in rent as a total write-off since none of those dollars are building in equity on a real estate asset, and second you have to calculate the loss of tax benefits like the mortgage interest deduction. On a community level, neighborhoods improve when people own instead of rent. When people move from renting to owning a home, they're more likely to vote, get involved in community groups, and care about their home's appearance.

Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.

The children of homeowners do 23% better in school, according to a 2001 study by Harvard's Joint Center for Housing Studies. And a steady flow of first-time homebuyers makes it easier to sell your own starter home when you're ready to move up to a larger property. There are times when renting may make sense, but, on the whole, homeownership has better results for individuals, families and communities.